Issuing Bank Standard Fees Sample Clauses
The Issuing Bank Standard Fees clause defines the standard charges that the issuing bank will apply for its services under the agreement. Typically, this clause outlines the types of fees—such as issuance, amendment, or processing fees—and may specify when and how these fees are to be paid by the applicant or beneficiary. By clearly stating the applicable fees and payment terms, this clause ensures transparency and helps prevent disputes over unexpected banking costs during the transaction.
Issuing Bank Standard Fees. Each Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and standby Letter of Credit fronting fees accrued through and including the last day of each Fiscal Quarter shall be payable on the third (3rd) Business Day following such last day, commencing on the first such date to occur after the Closing Date; provided that: (A) all such fees shall be payable on the date on which the Revolving Commitments terminate; (B) any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand; and (C) all fronting fees payable with respect to commercial Letters of Credit shall be payable on the date of the issuance thereof. Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable within ten (10) days after demand. All participation fees and standby Letter of Credit fronting fees shall be computed on the basis of a year of three hundred and sixty (360) days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).